What is GDPR and Why Is It Important for Your Business?

Posted on February 22nd 2017

On May 25th 2018, something massive happens. The current Data Protection Act is revoked and a new regulation comes into force – the General Data Protection Regulations (GDPR).

What is GDPR?

The General Data Protection Regulation is the most significant development in data protection that Europe has seen over the past twenty years. There is a much greater emphasis on compliance following a widely held belief that businesses have not taken data privacy seriously enough previously.

Why GDPR is Important

It will be the biggest shake up of rules surrounding Data Protection since 1998
It is a regulation that is relevant to every business, regardless of size or sector
Businesses could face fines of up to 20 million Euros
Brexit won’t affect it
Accountability is at the heart of the regulation
You will need to seek consent to control and process the data you hold
You cannot outsource the requirements
You need to have a clear process for managing data breach incidents
You’ll need to decide who will be your Data Protection Officer

Why the change is important

With an increase of data breaches reported in 2016 it should be no surprise that there is a need for greater data protection. Cyber security threats are getting ever more sophisticated which poses the problem to many about possible security attacks – it’s not if it is when. The changes to data regulations are important because it places accountability, meaning that if a company is found to be neglectful in its management of data protection, then someone will be held accountable.

There has never been a more important time to ensure that best practice is in place to secure client and employee data, protect brand reputation and ensure compliance. A planned and structured approach to the inevitable changes required for both systems and user behaviour suggests that the sooner preparation is started the better. With this in mind, here at BCN we are working on ways we can help our customers comply to these new regulations.

Contact our experienced team today